RodrigoRT7 wrote: Thu Jun 27, 2024 8:33 am Hello again Mr Tools.

In my holiday research, I remembered this one that is in the Forum's Top 10.

Could you please update the averages and include the RMAs?

If possible, add ATF, as it will be even better for smaller TFs. but as I know that the ATF tests are more complex, otherwise just updating the Avgs + RMAs is already excellent.

Thank you very much again

Step Ehlers Optimal Tracking Filter with 3 Candlestick Coloring Options + 2 line Coloring Choices + Regularized MA's

Try.

PS: For traders who are new to Step indicators and RMA's, please see:

• What are Regularized Moving Averages?
• What is a Step indicator?

mrtools wrote: Fri Jun 28, 2024 2:27 amTry.

Respected mrtools Sir,

Thanks for fulfilling all user wishes & request.

Thanks a Lot for all the buttons, various options, drop- down menus, new indicators.

Thanks again & gain.

thomdel wrote: Fri Jun 28, 2024 1:59 pm Respected mrtools Sir,

Thanks for fulfilling all user wishes & request.

Thanks a Lot for all the buttons, various options, drop- down menus, new indicators.

Thanks again & gain.

I make your words mine, Thomdel. As I've said a few times, I'm deeply grateful to Mr. Tools, Kvak, Jimmy, and all the members who share their ideas here on the forum.

I've already lost count of how many excellent indicators and templates I've seen here.

Long live the Forex Station team

BeatlemaniaSA wrote: Sat Apr 22, 2023 8:21 pm Fantastic, thanks mrtools!

Warmest regards,
BeatlemaniaSA

EDIT:
Looking great on the charts. Before and after and I still contend that, @jimmy, the EFT (Ehlers Fisher Transform) needs to be in the top 10 indicators!

Hi All,

In this image of the EFT (Ehlers Fisher Transform) posted by BeatlemaniaSA the EFTs have dotted line levels. I looked at all the EFT indicators in this thread but couldn't find any that included levels. Although I didn't find this discussed in the explanations of how EFT works but I'm wondering if those levels can act as overbought and oversold levels. If that is so then can someone please point me to an EFT indicator that include those overbought and oversold levels as shown in this image. Thanks.

My rational for wanting an EFT indicator with overbought and oversold levels is that since market prices don't follow a Gaussian Normal Distribution, standard deviation levels as shown by the Bollinger Bands indicator are not that reliable, so since the EFT indicator modifies the price into an almost Gaussian Normal Distribution bell-shaped curve, then if standard deviation levels are added to the EFT, then those levels should be very reliably indicators that the price is approaching overbought and oversold levels. Without overbought and oversold levels, the EFT only indicates reversals after it's slope reverses, not before.

global wrote: Tue Jul 16, 2024 9:05 am Hi All,

In this image of the EFT (Ehlers Fisher Transform) posted by BeatlemaniaSA the EFTs have dotted line levels. I looked at all the EFT indicators in this thread but couldn't find any that included levels. Although I didn't find this discussed in the explanations of how EFT works but I'm wondering if those levels can act as overbought and oversold levels. If that is so then can someone please point me to an EFT indicator that include those overbought and oversold levels as shown in this image. Thanks.

My rational for wanting an EFT indicator with overbought and oversold levels is that since market prices don't follow a Gaussian Normal Distribution, standard deviation levels as shown by the Bollinger Bands indicator are not that reliable, so since the EFT indicator modifies the price into an almost Gaussian Normal Distribution bell-shaped curve, then if standard deviation levels are added to the EFT, then those levels should be very reliably indicators that the price is approaching overbought and oversold levels. Without overbought and oversold levels, the EFT only indicates reversals after it's slope reverses, not before.


EFT Levels.png

Trying to understand are you looking for the EFT with bollinger bands?

mrtools wrote: Wed Jul 17, 2024 5:24 am Trying to understand are you looking for the EFT with bollinger bands?

Yes, that's exactly what I'm looking for so I can set custom overbought and oversold levels of deviation of the EFT above and below which it will be considered too late to enter a trade. That will be great. Thanks.

global wrote: Wed Jul 17, 2024 6:15 am Yes, that's exactly what I'm looking for so I can set custom overbought and oversold levels of deviation of the EFT above and below which it will be considered too late to enter a trade. That will be great. Thanks.

On my phone now won't be back till on my regular computer till tomorrow sometime, if nobody gets it before then will make one!

mrtools wrote: Wed Jul 17, 2024 7:31 am On my phone now won't be back till on my regular computer till tomorrow sometime, if nobody gets it before then will make one!

Thank you very much MrTools Looking forward to it.

global wrote: Wed Jul 17, 2024 7:34 am Thank you very much MrTools Looking forward to it.

I added SVE Bollinger Bands to the attached EFT indicator, "eft histo (mtf + alerts + arrows + lines + zones).mq4", using the SVE BB code from the "sve bollinger band mtf + alerts.mq4" indicator from attach/file/3308148 and created the attached "eft histo (mtf + alerts + arrows + lines + zones) SVE_BB.mq4" indicator.

The EFT indicator modifies the price into an almost Gaussian Normal Distribution bell-shaped curve, so when Bollinger Bands standard deviation levels are applied to the EFT, the signals produced should be more reliable than regular Bollinger Bands applied to the price.

However, if I increase the BBDeviations value of the "eft histo (mtf + alerts + arrows + lines + zones) SVE_BB.mq4" indicator from 1.6 to a higher value such as 2.6 for example, you will see that the SVE_BB curve doesn't touch the upper and lower 2.6 BB lines even though the price is clearly seen to break through the regular BB indicator upper and lower lines as shown in the chart screenshot below, so it doesn't seem to be working properly.

The regular BB indicator shown in the chart screenshot below is set to a period of 20, Deviations 2.6 and is applied to the Close price. Something needs to be changed for the "eft histo (mtf + alerts + arrows + lines + zones) SVE_BB.mq4" indicator to work as it should, so if you can fix that for us that would be great.

Maybe, applying regular Bollinger Bands code or Better Bollinger Bands code to the EFT may be better than the SVE Bollinger Bands code I used, I really don't know. I hope someone can fix this for us since I think that it may be a very useful addition to our trading tools. Thanks.


I updated the "eft histo (mtf + alerts + arrows + lines + zones) SVE_BB.mq4" indicator to display the background zones based on the bbValue crossing above or below the 50 level. I noticed that trends based on the crossing of the 50 level are reliable. This can be used as a confirmation of trends along with other confirming indicators.

For the "eft histo (mtf + alerts + arrows + lines + zones) SVE_BB.mq4" indicator, as an alternative display, if it's possible, it would be nice to see the actual EFT line as is shown by the "eft histo (mtf + alerts + arrows + lines + zones).mq4" indicator along with the Bollinger Bands overlaid on it, but I have no idea on how to code that, especially because the scales of the EFT and SVE_BB% are different.

global wrote: Wed Jul 17, 2024 12:24 pm I added SVE Bollinger Bands to the attached EFT indicator, "eft histo (mtf + alerts + arrows + lines + zones).mq4", using the SVE BB code from the "sve bollinger band mtf + alerts.mq4" indicator from attach/file/3308148 and created the attached "eft histo (mtf + alerts + arrows + lines + zones) SVE_BB.mq4" indicator.

The EFT indicator modifies the price into an almost Gaussian Normal Distribution bell-shaped curve, so when Bollinger Bands standard deviation levels are applied to the EFT, the signals produced should be more reliable than regular Bollinger Bands applied to the price.

However, if I increase the BBDeviations value of the "eft histo (mtf + alerts + arrows + lines + zones) SVE_BB.mq4" indicator from 1.6 to a higher value such as 2.6 for example, you will see that the SVE_BB curve doesn't touch the upper and lower 2.6 BB lines even though the price is clearly seen to break through the regular BB indicator upper and lower lines as shown in the chart screenshot below, so it doesn't seem to be working properly.

The regular BB indicator shown in the chart screenshot below is set to a period of 20, Deviations 2.6 and is applied to the Close price. Something needs to be changed for the "eft histo (mtf + alerts + arrows + lines + zones) SVE_BB.mq4" indicator to work as it should, so if you can fix that for us that would be great.

Maybe, applying regular Bollinger Bands code or Better Bollinger Bands code to the EFT may be better than the SVE Bollinger Bands code I used, I really don't know. I hope someone can fix this for us since I think that it may be a very useful addition to our trading tools. Thanks.


EFT_BB.png

what an excellent suggestion. I can say that SVE BB is one of the best counter trend indicators I've ever seen and combined with EFT it seems to me to be even better. I hope it will be further refined by our amazing programmers.